First Premier

[first48]

I have made a year with First Premier and I am ready to close them.  I am tired of the fees and I have obtained other cards with better limits and less fees.  Will this hurt my score if I close them?  I only owe 150.00 which I can pay off tomorrow.

[creditreformer]

my score went up roughly 20 points when i closed fp.  however, as w/anything, ymmv.  some have reported no change and others have reported minimal loss in points (sort of like when you get inqs).

[Anonymous]

You MAY lose a few points age-wise and if the loss of credit affects your utilization.  

You WILL, however, get the points back in time.  Unless you're still actively seeking credit, a few lost FICO points is worth the $$$ you'll save in fees and the joy you'll experience from dumping FP, IMO.

Message Edited by lurknomore on 09-25-2008 10:46 PM

[Anonymous]

If there is a drop, I'd say it's still worth it to get out of their crazy fee schedule. And their piddly credit card limit doesn't exactly give reason to stay either. If you've already got a different card or two, it's time send First Premier to the curb.

[first48]

Thanks everyone, I am going to close them today.  I have 4 other credit cards I can use and I could definitely do without the fees.

[first48]

I just called FP to cancel my account and of course I was transferred to an account specialist.  I went through the spill about the high fees, the low limit, yada, yada, yada.  Anyway I was given a 45.00 credit to use as I please that is supposed to post to my account by midnight tonight.  I am going to make a payment today and once that other money posts, I will close my account.